A residential street in Mansfield has emerged as a focal point for house in multiple occupation (HMO) conversions, with 15 of its 42 properties now operating as shared houses or flats.
Princes Street has seen more than a third of its housing stock converted to HMOs, driven by landlords seeking higher rental returns in a market facing increasing regulatory pressures.
Rental yield comparison
According to residents quoted in the Daily Mail, a property that sold for approximately £132,000 has been converted to include six bedrooms. The same residents calculated that a converted house can generate around £1,000 per week at £100 per room, compared to £680 to £900 when rented to a single family.
A neighbouring property currently has a planning application pending to become a ten-person shared house.
Infrastructure concerns
Residents have raised concerns about the concentration of HMOs on the street, with parking congestion cited as the primary issue. Lorry driver Lonel Tolan, 35, reported that congestion sometimes prevents him from accessing his own driveway.
Neighbour Marius Oprea, 47, told the Nottingham Post that an ambulance had been unable to turn in the crowded street. He also questioned whether the older housing stock could accommodate the increased demand, stating the pipes are “not fit for four bedrooms, four bathrooms, two kitchens.”
Additional complaints included waste management issues, with one resident reporting rat problems from overflowing bins at a neighbouring HMO.
Residents indicated that many occupants appear to work at Kings Mill Hospital, located 1.7 miles away, and stressed their objection relates to HMO concentration rather than individual tenants.
Market context
HMOs have gained appeal among landlords facing rising costs and regulation in the buy-to-let sector. The National Residential Landlords Association recently published data showing licensing costs for landlords ranging from £750 to more than £2,100.
Mansfield District Council has been contacted for comment on the concentration of HMOs in Princes Street and whether any planning restrictions are being considered.
